BMO life insurers to amalgamate

Summary#

Notice that BMO Life Insurance Company and BMO Life Assurance Company plan to apply to the federal government to merge into a single firm. If approved, the combined company would use the name BMO Life Assurance Company (English) and BMO Société d’assurance-vie (French), with a planned effective date of November 1, 2025.

What it does#

• The two firms intend to file a joint application to the Minister of Finance under the Insurance Companies Act (Canada) on or after July 28, 2025 for letters patent of amalgamation.
• If the letters patent are granted, the two companies would continue as one company named BMO Life Assurance Company / BMO Société d’assurance-vie.
• The head office of the merged company would be in Toronto, Ontario.
• The proposed effective date is November 1, 2025, or another date set in the letters patent.
• The notice makes clear that publication does not mean approval is guaranteed; the decision is subject to the normal review and the Minister’s discretion.

Who's affected#

• People who hold life insurance or annuity policies with these companies — they may see the insurer name change on documents.
• Employees, agents, and brokers who work with either company.
• Business partners and service providers that deal with these insurers.
• Regulators who review the application.

The notice does not say whether policy terms, premiums, customer service arrangements, or claims handling will change.

Why it matters#

• A merger can change the legal name shown on policies and official communications, so customers should watch for notices from their insurer.
• Operational or administrative changes (for example, where paperwork is processed or which office handles service) are possible, though this specific notice does not describe any such changes.
• Because the amalgamation needs federal approval, nothing is final until the Minister acts.